Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Triangle Capital Corp. (NYSE:TCAP) by 38.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,096 shares of the company’s stock after buying an additional 23,880 shares during the period. Sumitomo Mitsui Asset Management Company LTD owned about 0.22% of Triangle Capital Corp. worth $1,696,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of TCAP. Muzinich & Co. Inc. raised its position in shares of Triangle Capital Corp. by 102.9% in the third quarter. Muzinich & Co. Inc. now owns 496,901 shares of the company’s stock worth $9,789,000 after buying an additional 252,022 shares during the last quarter. Confluence Investment Management LLC raised its stake in Triangle Capital Corp. by 3.9% in the second quarter. Confluence Investment Management LLC now owns 437,921 shares of the company’s stock worth $8,487,000 after buying an additional 16,577 shares during the last quarter. Guggenheim Capital LLC raised its stake in Triangle Capital Corp. by 34.9% in the second quarter. Guggenheim Capital LLC now owns 265,437 shares of the company’s stock worth $5,144,000 after buying an additional 68,654 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Triangle Capital Corp. during the third quarter worth approximately $4,925,000. Finally, Bank of Montreal Can bought a new stake in Triangle Capital Corp. during the second quarter worth approximately $4,070,000. 27.08% of the stock is currently owned by hedge funds and other institutional investors.
Triangle Capital Corp. (NYSE:TCAP) opened at 19.08 on Friday. Triangle Capital Corp. has a 52 week low of $14.91 and a 52 week high of $21.35. The firm has a 50-day moving average price of $18.68 and a 200-day moving average price of $19.23. The company has a market cap of $770.07 million, a P/E ratio of 18.19 and a beta of 0.85.
Triangle Capital Corp. (NYSE:TCAP) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.03. Triangle Capital Corp. had a net margin of 31.88% and a return on equity of 11.44%. The company had revenue of $27.40 million for the quarter, compared to the consensus estimate of $29.12 million. During the same period in the prior year, the firm posted $0.56 EPS. The business’s revenue for the quarter was down 11.0% on a year-over-year basis. Equities research analysts anticipate that Triangle Capital Corp. will post $1.59 EPS for the current fiscal year.
A number of research firms recently commented on TCAP. Bank of America Corp. began coverage on Triangle Capital Corp. in a research report on Friday, January 6th. They issued a “buy” rating and a $20.00 price target for the company. National Securities reissued a “buy” rating and issued a $22.00 price target on shares of Triangle Capital Corp. in a research report on Monday, November 7th. Hilliard Lyons began coverage on Triangle Capital Corp. in a research report on Wednesday, September 28th. They issued a “buy” rating and a $20.00 price target for the company. Finally, Zacks Investment Research raised Triangle Capital Corp. from a “sell” rating to a “hold” rating in a research report on Saturday, January 7th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $20.40.
About Triangle Capital Corp.
Triangle Capital Corporation is a specialty finance company. The Company provides customized financing to lower middle market companies located in the United States. The Company’s investment objective is to seek returns by generating current income from its debt investments and capital appreciation from its equity related investments.
Want to see what other hedge funds are holding TCAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Triangle Capital Corp. (NYSE:TCAP).